K11’s Adrian Cheng launches new investment venture ‘ALMAD Group’

It will focus on emerging markets.

Entrepreneur Adrian Cheng has announced the launch of ALMAD Group, a new Hong Kong–based global platform focused on emerging markets and next-generation digital opportunities.

ALMAD Group’s portfolio is built around three key growth pillars: investing in transformative industries such as culture, entertainment, sports, media, healthcare, commercial management, and cultural tourism in emerging markets; breaking boundaries in digital and virtual assets with a focus on Web3, blockchain applications, and real-world asset (RWA) tokenisation; and globalising the K11 by AC cultural ecosystem by expanding its innovative model of cultural commerce worldwide.

Cheng, known for early investments in Xiaohongshu, XPeng Motors, and Micro Connect, will lead ALMAD’s financial and technology strategy.

The group aims to meet the demands of Gen Z and Gen Alpha with industries capable of shaping the global economy over the next two decades.

A key growth engine will be K11 by AC, which manages cultural districts and retail spaces for younger, affluent audiences.

Its Anime IP venture, Experience 11, is expanding in Mainland China and the Middle East, tapping into the fast-growing ACGN (Animation, Comic, Game, and Novel) market. K11 is also scaling its Gentry Club, a luxury city club centered on culture and artisanal lifestyle.

ALMAD builds on Cheng’s record of pioneering cultural and commercial projects, including the K11 brand and Hong Kong’s $2.6b Victoria Dockside development.

The new group will partner with entrepreneurs and investors to capture long-term opportunities at the intersection of culture, technology, and emerging markets.